Bank Restaurant Group has bought Zinc Bar & Grill from Conran Restaurants for £1.5m.
The move more than doubles the Alternative Investment Market-listed company’s estate, boosting it’s portfolio to eight city-centre restaurants.
Zinc sites are located in London, Manchester, Birmingham and Glasgow. The deal includes the étain restaurant in Scotland.
Conran Restaurants has entered into a restaurant services agreement to provide support services to the enlarged group.
Bank said current trading at the business was broadly in line with budget. Zinc has seen turnover increase 15% to £5.8m this year with like-for-like sales up 5.6%.
Bank executive chairman Robert Breare said: “We continue to believe that Bank has the potential to act as a vehicle for consolidation in the fragmented restaurant and bar sector.”
By Emily Manson
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